亚洲发展中经济体和转型期经济体外债决定因素的实证研究

Q2 Social Sciences

Development Studies Research Pub Date : 2021-01-01 DOI:10.1080/21665095.2021.1976658

Muhammad Dawood, Samuel Tawiah Baidoo, Syed Ale Raza Shah

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引用次数: 9

摘要

摘要本文调查了1995-2019年期间32个亚洲发展中经济体和转型经济体的外债决定因素。估计是使用广义矩方法（GMM）进行的，该方法能够处理潜在的内生性问题。结果表明，从短期和长期来看，经济增长和投资减少了外债，而汇率、贸易和政府支出增加了外债。诊断测试证实了我们研究结果的可靠性和一致性，决策者在制定和实施政策时应考虑到这一点。根据我们的实证研究结果，提供了旨在减少选定亚洲发展中经济体和转型经济体外债的相关政策影响，供政策考虑。

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An empirical investigation into the determinants of external debt in Asian developing and transitioning economies

ABSTRACT This paper investigates the determinants of external debt in 32 Asian developing and transitioning economies for the period 1995–2019. Estimation is carried out using the generalized method of moments (GMM), which is capable of dealing with potential endogeneity problems. The results show that in both the short- and long-run, economic growth and investment reduce external debt, whereas exchange rate, trade, and government expenditure increase external debt. Diagnostic tests confirm the reliability and consistency of our findings, which should be taken into account by policymakers for policy formulation and implementation. Based on our empirical findings, relevant policy implications, aimed at reducing external debt in the selected Asian developing and transitioning economies, are provided for policy consideration.

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来源期刊

Development Studies Research Social Sciences-Development

CiteScore

3.20

自引率

0.00%

发文量

审稿时长

12 weeks

期刊介绍： Development Studies Research ( DSR) is a Routledge journal dedicated to furthering debates in development studies. The journal provides a valuable platform for academics and practitioners to present their research on development issues to as broad an audience as possible. All DSR papers are published Open Access. This ensures that anyone, anywhere can engage with the valuable work being carried out by the myriad of academics and practitioners engaged in development research. The readership of DSR demonstrates that our goal of reaching as broad an audience as possible is being achieved. Papers are accessed by over 140 countries, some reaching over 9,000 downloads. The importance of the journal to impact is thus critical and the significance of OA to development researchers, exponential. Since its 2014 launch, the journal has examined numerous development issues from across the globe, including indigenous struggles, aid effectiveness, small-scale farming for poverty reduction, sustainable entrepreneurship, agricultural development, climate risk and the ‘resource curse’. Every paper published in DSR is an emblem of scientific rigour, having been reviewed first by members of an esteemed Editorial Board, and then by expert academics in a rigorous review process. Every paper, from the one examining a post-Millennium Development Goals environment by one of its architects (see Vandermortele 2014), to ones using established academic theory to understand development-imposed change (see Heeks and Stanforth 2015), and the more policy-oriented papers that contribute valuable recommendations to policy-makers and practitioners (see DSR Editor’s Choice: Policy), reaches a multidisciplinary audience.